Tax
Aug. 15, 2014
Inversions may be trending, but they're not new
Inversions are not new. Yet in a short period of time they have undergone a rather startling metamorphosis.
Robert W. Wood
Managing Partner
Wood LLP
333 Sacramento St
San Francisco , California 94111-3601
Phone: (415) 834-0113
Fax: (415) 789-4540
Email: wood@WoodLLP.com
Univ of Chicago Law School
Wood is a tax lawyer at Wood LLP, and often advises lawyers and litigants about tax issues.
Inversions are not new. Yet in a short period of time they have undergone a rather startling metamorphosis. Once, they were interesting transactions some companies with the right facts, assets and international ambitions could pursue. A global enterprise that is not domiciled in the U.S. pays less U.S. tax on non-U.S. income, period.
Inversions reduce U.S. taxes on foreign income - not on U.S. based income. That was and remains why the...
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